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The post <a href="https://coinpedia.org/news/erc-404-tokens-plummet-60-million-evaporates-in-24-hour-market-dive/">ERC-404 Tokens Plunge as $60 Million Vanishes in 24 Hours; Recovery Possible?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Just yesterday, the innovative <a href="https://coinpedia.org/news/are-erc-404-tokens-worth-investing-in-this-crypto-bull-run/">ERC-404</a> tokens were riding high, promising to revolutionize the NFT world. In an unexpected twist, the tokens, a blend of ERC-20 and ERC-721 on the Ethereum Blockchain, recently saw a sharp decline in market value. Within just 24 hours, the sector lost over a third of its total market value, a staggering <a href="https://www.coingecko.com/en/categories/erc-404">$60 million</a> vanishing into thin air. 
What happened? Was it a mere hiccup or a sign of deeper flaws? 
<h2 class="wp-block-heading" id="h-erc-404-tokens-tumble">ERC-404 Tokens Tumble</h2> 
The sudden crash in ERC-404 token values, still in the experimental phase awaiting formal adoption as an Ethereum Improvement Proposal (EIP) standard, surprised many. Major projects using ERC-404 faced losses, with noticeable drops in their values. 
The well-known ERC-404 token, <a href="https://coinpedia.org/news/pandora-token-surged-13x-is-it-worth-investing-in-this-new-token/">PANDORA</a>, lost more than 24% of its value. This came after a week of rapid gains, where its price surged from $8,600 to $32,200, showing a significant upswing in a short time. 
Also Read: <a href="https://coinpedia.org/news/lookonchain-report-trader-turns-1-eth-into-59000-in-just-11-hours-with-new-erc-404-token/">Trader Turns $2400 to $59,000 in 11 Hrs with New ERC-404 Token; Here’s How He Did It</a> 
DEFROG also experienced a 26% decline, while RUG faced a significant drop of 31%. The downturn in these key projects highlighted the volatile nature of ERC-404 tokens. 
In total, the cryptocurrency market lost a substantial $60 million, indicating a rush of people selling their tokens in response to the ERC-404 downturn. 
<h2 class="wp-block-heading" id="h-but-the-marvel-continues">But the Marvel Continues </h2> 
The ERC-404 tokens stand out for their adaptability, combining the trading liquidity of ERC-20 tokens with the unique features of non-fungible tokens (NFTs or ERC-721). This experimental standard aims to make trading NFT portions more accessible and cost-effective, enticing more people into the market. 
Tokenization, a groundbreaking concept, allows assets to be split into smaller, more easily traded units. The ERC-404 standard is a forward-thinking initiative, making the trading of parts of an NFT more accessible and cost-effective. This approach aims to encourage more people to get involved in the market. 
<h2 class="wp-block-heading" id="h-overnight-succes-story">Overnight Succes Story</h2> 
Despite its experimental nature and lacking official recognition as an Ethereum Improvement Proposal (EIP), the ERC-404 standard has already spurred the creation of various projects.&nbsp; 
PANDORA, the first token using ERC-404, gained a lot of support from platforms like OKX, Blur, and OpenSea marketplaces. 
<a href="https://coinpedia.org/news/crypto-trader-turns-a-little-into-a-lot-166k-in-2-days-with-just-0-26-eth/">DEFROGS</a> is another project thriving under the ERC-404 standard, attracting attention with substantial growth. Recently, Coinpedia reported a fascinating overnight success story where a <a href="https://coinpedia.org/news/crypto-trader-turns-a-little-into-a-lot-166k-in-2-days-with-just-0-26-eth/">trader pocketed an impressive</a> $166,000 in just two days by investing 0.258 ETH ($613) in the DeFrogs token. 
These instances underscore the potential impact of the ERC-404 standard, showcasing its ability to create wealth in the dynamic world of cryptocurrencies. Despite recent setbacks, the experimental nature of ERC-404 tokens continues to fuel innovation and intrigue. 
This Might Interest You: <a href="https://coinpedia.org/price-analysis/top-5-altcoins-to-turn-100-to-1000-this-year/">Top 5 Altcoins To Turn $100 To $1000 This Year</a>

ERC-404 Tokens Plunge as $60 Million Vanishes in 24 Hours; Recovery Possible?

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